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Tuesday, 04 May 10
DRY BULK MARKET SOFTENING AGAIN ON LACK OF DIRECTION
 The dry bulk market has put on the brakes once again, after the last session of the Baltic Dry Index ended at 3,354 points, down 5 from the previous day. The capesize segment lost 62 points to reach 3,936, while the smaller panamax market gained 9 points to reach 3,900. Still, the irregularity observed during the previous weeks, when a panamax vessel could command higher fees than a comparative capesize has been eradicated after last week’s rally.
Still, in just one week the cape market has regained most of the ground lost since mid March, with the BCI closing on Friday at 3,936 points (+698 or +21.6% week on week) said Barry Rogliano Salles in a latest report. “This surge has been achieved on the back of short tonnage lists in the Atlantic and a rush for fixing before the Chinese/ Japanese holidays. However, the enthusiasm went a little down on Friday’s little downward correction. There was some increased period activity for one year duration, done in the mid 30s level, up from the low 30s of the previous weeks” said the report.
Summarizing the latest developments affecting the dry bulk market, BRS said that the project supported by the Australian Government to raise a so-called “resource rent tax” has come as a shock for the iron ore miners. Apart from the immediate reaction of the stock exchanges towards mining shares, the miners themselves have warned authorities that this tax (if implemented) could freeze a big share of their development projects.
“Analysts already predict that this tax could prevent some M&A initiatives to go further and decide some foreign investors to revise their plans. At the same time in China the CISA has called for a tax cut on domestic mining and a development of local supply. On the iron ore market, most players seem to be bearish about price evolution and wait-and-see attitude prevails for the moment. Lack of clear direction has also been the case for dry bulk shipping markets where despite a rate hike for Capes over the last 5 trading days, the week ended on a softer note.
Rumors have started circulating about a merger project by Glencore with Xstrata (of which they already won 34%) which could rocket the group to the top of the world commodity players’ ranking. No comments have so far been obtained from the two groups but according to analysts this project could be a key part of Glencore wider restructuring plan” said the shipbroker.
Still, in a recent report by N.Cotzias Shipping Group, we had noted that capes could very well be in for a run. “The fundamentals tell us that the Steel demand in China that leads the Iron]Ore Demand/Supply “tug of war” is there strong, and although China has reduced its iron ore imports from India due to an increase in excise duty and low grade imports into the country, overall trade has picked up, causing BDI to remain steadily in the range of 3k.
The past 2-3 weeks we have seen the Chinese Iron/Ore importers with the backing of the CISA, to be playing a nerve racking tactical cold war game with the giant Miners and Iron/Ore exporters. We strongly believe it is time that the flow returns to the normal levels and this "artificial" scarcity and shortage in the demand that was triggered partly as a boycott threat, cum pressure, will be resolved soon.
It is not a common secret after IMF released last week the latest word growth figures, that China's GDP growth estimate for 2010 is in double figures of 10%, and recent trade figures show that the improrts of Iron/Ore will exceed in volume those of 2009 by 7%” reaffirmed the report.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Tuesday, 12 January 10
COAL PRICE FORECAST RAISED AT ANZ ON STRONGER CHINESE DEMAND
Power-station coal price forecasts for this year were raised 19 percent by Australia & New Zealand Banking Group Ltd. on rising demand from Chin ...
Tuesday, 12 January 10
BUMIS SALE CONTRACT ONLY REACHED 35 PERCENT
PT Bumi Resources has only completed 35 percent if its coal sale contract this year. “More than 65 percent of our sale volume did not have a c ...
Monday, 11 January 10
THE MARKET IS LIKELY TO BE STEADY - VISTAAR SINGAPORE
COALspot.com (Singapore): The freight market for the first week of the year was quite active and the market especially in the Panamax and Supramax s ...
Monday, 11 January 10
CHINAS COAL EXPORT MAY DECLINE 50% IN 2009
Preliminary data released by China's General Administration of Customs (GAC) on Wednesday showed that China's coal export reached 2.05 million ton ...
Saturday, 09 January 10
THE FAR EAST MARKET STARTED TO STABILIZE - FEARNLEYS
Handy
The FEAST market started to stabilize after the quite holidays and we saw growing activity fed by Chinese coal and iron ore imports and Indi ...
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- Renaissance Capital - South Africa
- Siam City Cement PLC, Thailand
- Trasteel International SA, Italy
- Tamil Nadu electricity Board
- Semirara Mining and Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Grasim Industreis Ltd - India
- Interocean Group of Companies - India
- Ministry of Transport, Egypt
- Commonwealth Bank - Australia
- Indonesian Coal Mining Association
- Port Waratah Coal Services - Australia
- Asmin Koalindo Tuhup - Indonesia
- Sindya Power Generating Company Private Ltd
- Videocon Industries ltd - India
- AsiaOL BioFuels Corp., Philippines
- Gujarat Electricity Regulatory Commission - India
- International Coal Ventures Pvt Ltd - India
- Star Paper Mills Limited - India
- Orica Mining Services - Indonesia
- Makarim & Taira - Indonesia
- South Luzon Thermal Energy Corporation
- White Energy Company Limited
- Karbindo Abesyapradhi - Indoneisa
- CNBM International Corporation - China
- MS Steel International - UAE
- PowerSource Philippines DevCo
- Chamber of Mines of South Africa
- Borneo Indobara - Indonesia
- Therma Luzon, Inc, Philippines
- Mjunction Services Limited - India
- Sinarmas Energy and Mining - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Mintek Dendrill Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Bharathi Cement Corporation - India
- Eastern Energy - Thailand
- GAC Shipping (India) Pvt Ltd
- Sree Jayajothi Cements Limited - India
- Global Coal Blending Company Limited - Australia
- Indian Energy Exchange, India
- Global Green Power PLC Corporation, Philippines
- Medco Energi Mining Internasional
- Jindal Steel & Power Ltd - India
- New Zealand Coal & Carbon
- Bank of Tokyo Mitsubishi UFJ Ltd
- Miang Besar Coal Terminal - Indonesia
- Aboitiz Power Corporation - Philippines
- Deloitte Consulting - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Billiton Holdings Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- Economic Council, Georgia
- Electricity Generating Authority of Thailand
- Timah Investasi Mineral - Indoneisa
- Ambuja Cements Ltd - India
- Marubeni Corporation - India
- Australian Commodity Traders Exchange
- Karaikal Port Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Australian Coal Association
- Ministry of Finance - Indonesia
- Siam City Cement - Thailand
- Jaiprakash Power Ventures ltd
- Ministry of Mines - Canada
- Kumho Petrochemical, South Korea
- Heidelberg Cement - Germany
- Coalindo Energy - Indonesia
- Carbofer General Trading SA - India
- Neyveli Lignite Corporation Ltd, - India
- Mercuria Energy - Indonesia
- SMG Consultants - Indonesia
- The State Trading Corporation of India Ltd
- Energy Development Corp, Philippines
- Formosa Plastics Group - Taiwan
- Globalindo Alam Lestari - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- OPG Power Generation Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Simpson Spence & Young - Indonesia
- Kepco SPC Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Posco Energy - South Korea
- Binh Thuan Hamico - Vietnam
- Mercator Lines Limited - India
- Chettinad Cement Corporation Ltd - India
- PTC India Limited - India
- Electricity Authority, New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Jorong Barutama Greston.PT - Indonesia
- IHS Mccloskey Coal Group - USA
- Petron Corporation, Philippines
- Baramulti Group, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Eastern Coal Council - USA
- TeaM Sual Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- The University of Queensland
- Cigading International Bulk Terminal - Indonesia
- Independent Power Producers Association of India
- Merrill Lynch Commodities Europe
- Parliament of New Zealand
- Indo Tambangraya Megah - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Thiess Contractors Indonesia
- Thai Mozambique Logistica
- Vedanta Resources Plc - India
- Africa Commodities Group - South Africa
- LBH Netherlands Bv - Netherlands
- Kohat Cement Company Ltd. - Pakistan
- Wood Mackenzie - Singapore
- India Bulls Power Limited - India
- Barasentosa Lestari - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Banpu Public Company Limited - Thailand
- Sojitz Corporation - Japan
- Vizag Seaport Private Limited - India
- Directorate General of MIneral and Coal - Indonesia
- PNOC Exploration Corporation - Philippines
- Aditya Birla Group - India
- Standard Chartered Bank - UAE
- Gujarat Sidhee Cement - India
- Riau Bara Harum - Indonesia
- Pendopo Energi Batubara - Indonesia
- Metalloyd Limited - United Kingdom
- Lanco Infratech Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bhoruka Overseas - Indonesia
- Kobexindo Tractors - Indoneisa
- Sakthi Sugars Limited - India
- GVK Power & Infra Limited - India
- Kaltim Prima Coal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GMR Energy Limited - India
- Rio Tinto Coal - Australia
- Oldendorff Carriers - Singapore
- European Bulk Services B.V. - Netherlands
- Bhatia International Limited - India
- Larsen & Toubro Limited - India
- McConnell Dowell - Australia
- Toyota Tsusho Corporation, Japan
- Manunggal Multi Energi - Indonesia
- Bukit Makmur.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- Power Finance Corporation Ltd., India
- GN Power Mariveles Coal Plant, Philippines
- Central Electricity Authority - India
- Bahari Cakrawala Sebuku - Indonesia
- Latin American Coal - Colombia
- Kideco Jaya Agung - Indonesia
- Bukit Baiduri Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Savvy Resources Ltd - HongKong
- Iligan Light & Power Inc, Philippines
- Minerals Council of Australia
- Xindia Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- Price Waterhouse Coopers - Russia
- Edison Trading Spa - Italy
- Central Java Power - Indonesia
- Agrawal Coal Company - India
- Uttam Galva Steels Limited - India
- London Commodity Brokers - England
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bangladesh Power Developement Board
- Goldman Sachs - Singapore
- Indian Oil Corporation Limited
- ASAPP Information Group - India
- Wilmar Investment Holdings
- Romanian Commodities Exchange
- Indogreen Group - Indonesia
- Coal and Oil Company - UAE
- Kartika Selabumi Mining - Indonesia
- ICICI Bank Limited - India
- San Jose City I Power Corp, Philippines
- Cement Manufacturers Association - India
- Kalimantan Lumbung Energi - Indonesia
- Sical Logistics Limited - India
- Singapore Mercantile Exchange
- Bulk Trading Sa - Switzerland
- Maheswari Brothers Coal Limited - India
- Meenaskhi Energy Private Limited - India
- Semirara Mining Corp, Philippines
- Dalmia Cement Bharat India
- Tata Chemicals Ltd - India
- Directorate Of Revenue Intelligence - India
- Georgia Ports Authority, United States
- Attock Cement Pakistan Limited
- Antam Resourcindo - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Madhucon Powers Ltd - India
- Meralco Power Generation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Anglo American - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Malabar Cements Ltd - India
- SMC Global Power, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- Bhushan Steel Limited - India
- Planning Commission, India
- Vijayanagar Sugar Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- VISA Power Limited - India
- Straits Asia Resources Limited - Singapore
- The Treasury - Australian Government
- Parry Sugars Refinery, India
- Intertek Mineral Services - Indonesia
- Bayan Resources Tbk. - Indonesia
- CIMB Investment Bank - Malaysia
- Altura Mining Limited, Indonesia
- Energy Link Ltd, New Zealand
- IEA Clean Coal Centre - UK
- SN Aboitiz Power Inc, Philippines
- Indika Energy - Indonesia
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